US Stocks- Futures rise as lower Treasury yields boost high-growth stocks
时间:2024-06-26 11:40:12 阅读(143)
U.S. stock index futures edged higher on Thursday as easing government bond yields lifted high-valued growth stocks, while investors awaited business activity data and Federal Reserve Chair’s testimony to Congress.
Recession fears have gripped Wall Street on concerns that economic growth and corporate profits could come under pressure from rising interest rates, the Ukraine war and the prolonged supply chain problems.
In the previous session, U.S. stock indexes ended with slim losses after Fed Chair Jerome Powell said the central bank is not trying to engineer a recession but is fully committed to bringing prices under control even if doing so risks an economic downturn.
His second day of testimony before the House Financial Services Committee is at 10 a.m. ET (1400 GMT). Money markets are pricing in 75 basis point (bps) increase in rates next month, followed by a 50 basis point rise in September.
Weekly jobless claims report is due at 08:30 a.m. ET. The S&P Global’s Composite PMI survey for June will be published after the market opens. Similar surveys from earlier in the day showed manufacturing growth is slowing from Asia to Europe as surging inflation dents global economic outlook.
Meanwhile, the Fed is set to release the results of its 2022 stress test, which will assess how much capital banks would need to withstand a severe economic downturn. Shares of big banks slipped in premarket trading, with Wells Fargo down 0.2%.
At 06:54 a.m. ET, Dow e-minis were up 141 points, or 0.46%, S&P 500 e-minis were up 27.25 points, or 0.72%, and Nasdaq 100 e-minis were up 125.5 points, or 1.09%.
Tesla Inc rose 2% and Nvidia Corp 1.5% to lead gains among the growth and technology companies as Treasury yields pulled back.Occidental Petroleum Corp gained 3.3% after Warren Buffett’s Berkshire Hathaway Inc bought another 9.6 million shares of the oil company, boosting its stake to 16.3%.
Snowflake Inc climbed 5.1% after J.P. Morgan upgraded the cloud software company’s stock to “overweight” from “neutral”.
上一篇:Departure of grounded Romanian plane with Indian passengers from French airport delayed- Reports
下一篇:Year Ender 2023 - Indian Railways- Measures taken to improve safety in train operations
猜你喜欢
- On the ramen trail- If K-dramas have made you believe that popular noodle broth is instant dish, you might be in for pleasant surprise
- Organisational resilience and the hermit crab
- Delhi excise policy ‘scam’- Delhi HC issues notice to ED on AAP leader Sanjay Singh’s bail plea
- OnePlus Nord CE 3 Lite 5G rough-cut- Everything to know in 5 points
- Passive money may form bulk of flows into Indian equities in CY23
- One month of Hindenburg report – Adani shares fall close to short sellers’ value target; what next-
- Tata Motors, MRF, ONGC, HPCL, NTPC, GAIL among 129 stocks that hit 52-week highs; 12 touch 52-week lows
- Tata 1mg and Vitonnix UK get into an exclusive partnership in India; Launch sublingual sprays
- DGCA serves show-cause notices to Air India, SpiceJet over fog delays